10 years later and Astaldi continues to evolve their finance transformation journey with CCH Tagetik!

Transcript

Due to the very fast grow of the company, we needed a software based on projects, while the previous one was only focused on legal entity logic.

With CCH Tagetik we have had the opportunity to underline and stress our financial performances, divided by each project.

The most difficult aspect to manage was the location worldwide of our plants - they are located in Europe and South America, North America and Asia - so we needed a web-based solution that allowed us to collect data 24 hours a day, 7 days a week considering that we work on very different time zones.

Thanks to the web-based CCH Tagetik platform we lowered our TCO from 20% to 30%, and we can benefit from real-time data across our entities.

We use CCH Tagetik for statutory consolidation: we have 150 different entities with over 50 different currencies, so we have a lot of data to convert to euros, about 10 different consolidation scenarios, and 300 different contributors located worldwide.

We also use CCH Tagetik for budgeting and forecasting based on a project approach: every project manages its own budget on a monthly basis with revenue and costs shared across different currencies.

Then, we have the budget and financial planning to calculate all the different currencies, we also use CCH Tagetik for Enterprise Risk Management, which is a new process, and finally the Collaborative Disclosure Management, which allows us to produce the notes to the balance sheets for many different scenarios and to refresh and update data in a very fast way.

Astaldi was in a software selection with Cognos, IBM, Hyperion… and the difference we perceived from CCH Tagetik consultants was in their approach in respect of our needs.

After 10 years Astaldi has no regrets and this is demonstrated by the fact that we are enlarging our experience with CCH Tagetik to other CPM processes … the last one to be implemented will probably be the Integrated Reporting, I'm personally working on this and I'm absolutely sure of the success of this project.

CCH Tagetik is used daily by our CFO, who has visibility on all of Astaldi's financial accounts worldwide, thanks to specific reports addressed to the CFO, so he can monitor the bank account situation in real time everyday.